RMBS

J.P. Morgan plans to issue its second RMBS deal of 2013, the $442.4 million Mortgage Trust 2013-2.

Freddie Mac will begin securitizing modified single-family loans, according to the government-sponsored enterprise.

Ally Financial agreed to pay $2.1 billion to unsecured creditors of its bankrupt mortgage unit, Residential Capital, including securitization trusts.

A large portfolio sale by a European bank is set to test market appetite for non-agency residental mortgage-backed securities (RMBS).

The Federal Housing Finance Agency should require the government-sponsored enterprises to purchase loans with deeper levels of credit enhancement in exchange for bona fide reductions in guarantee fees, the Mortgage Bankers Association said.

Santander UK is readying an £1.35 billion-equivalent securitization of residential mortgage loans, according to Standard & Poor’s; it includes a dollar tranche.

Moody's Investors Service said today that it will review for downgrade the ratings of 28 tranches in eight U.K. residential mortgage backed securities transactions sponsored by Co-Operative Bank.

Private mortgage insurance companies and mortgage REITs are willing to take first-loss positions on government-backed MBS, according to Mortgage Bankers Association chief executive David Stevens.

Ratings rotation was advocated by some panelists at a talk a convened by the Securities and Exchange Commission on a credit rating assignment system as envisaged by Section 939F of the Dodd-Frank Act, also known as the Franken Amendment.